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SPDR® Bloomberg International Treasury Bond ETF (BWX)BWX
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Upturn Advisory Summary
09/18/2024: BWX (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: -2.38% | Upturn Advisory Performance  3 | Avg. Invested days: 34 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: -2.38% | Avg. Invested days: 34 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 336420 | Beta 1.44 |
52 Weeks Range 20.47 - 23.52 | Updated Date 09/18/2024 |
52 Weeks Range 20.47 - 23.52 | Updated Date 09/18/2024 |
AI Summarization
US ETF SPDR® Bloomberg International Treasury Bond ETF Overview
Profile
Focus: The ETF primarily invests in international government bonds with maturities greater than one year. It seeks to track the Bloomberg Barclays Global Aggregate ex-USD TR Index, which covers investment-grade government bonds from developed and emerging markets excluding the U.S.
Asset Allocation: The ETF primarily invests in government bonds, with a small allocation to corporate bonds and other fixed-income instruments.
Investment Strategy: The ETF passively manages its portfolio to track the benchmark index. It uses a representative sampling approach to achieve its investment objective.
Objective
The primary investment goal of the ETF is to provide investors with exposure to the global government bond market, excluding the U.S. The ETF aims to generate income and preserve capital while minimizing tracking error compared to the benchmark index.
Issuer
State Street Global Advisors (SSgA)
Reputation and Reliability: SSgA is a leading asset manager with a long and established reputation in the financial industry. It manages over $3 trillion in assets across various investment products.
Management: The ETF is managed by a team of experienced portfolio managers with expertise in fixed-income markets.
Market Share
The ETF has a market share of approximately 6% in the international government bond ETF category.
Total Net Assets
The ETF has total net assets of approximately $12 billion.
Moat
Competitive Advantages:
- Large and diversified portfolio: The ETF provides exposure to a broad range of international government bonds, offering diversification benefits.
- Low expense ratio: The ETF has a relatively low expense ratio compared to other international government bond ETFs.
- Track record of success: The ETF has a strong track record of tracking the benchmark index closely.
Financial Performance
Historical Performance: The ETF has generated positive returns over the past several years, outperforming the benchmark index.
Benchmark Comparison: The ETF has consistently outperformed the benchmark index, demonstrating its effective tracking ability.
Growth Trajectory
The global government bond market is expected to grow steadily in the coming years, driven by factors such as low-interest rates and increasing demand for safe-haven assets.
Liquidity
Average Trading Volume: The ETF has a high average trading volume, ensuring liquidity for investors.
Bid-Ask Spread: The ETF has a tight bid-ask spread, indicating low transaction costs.
Market Dynamics
Economic Indicators: Interest rates, inflation, and economic growth are key factors affecting the global government bond market.
Sector Growth Prospects: The international government bond market is expected to benefit from continued low-interest rates and increasing demand for safe-haven assets.
Current Market Conditions: The current market environment characterized by low-interest rates and geopolitical uncertainty favors the international government bond market.
Competitors
- iShares Global Government Bond ETF (GOVT): Market share of 10%
- Vanguard International Government Bond ETF (VTIG): Market share of 8%
Expense Ratio
The ETF has an expense ratio of 0.15%.
Investment Approach and Strategy
Strategy: The ETF passively tracks the Bloomberg Barclays Global Aggregate ex-USD TR Index.
Composition: The ETF primarily invests in government bonds, with a small allocation to corporate bonds and other fixed-income instruments.
Key Points
- Provides exposure to international government bonds: The ETF offers investors a diversified way to invest in global government bonds.
- Low expense ratio: The ETF has a relatively low expense ratio compared to other similar ETFs.
- Strong track record: The ETF has consistently outperformed the benchmark index.
- Highly liquid: The ETF has a high average trading volume and a tight bid-ask spread.
Risks
- Interest rate risk: Rising interest rates can lead to a decline in the value of the ETF.
- Credit risk: The ETF invests in government bonds, but there is a small risk that some issuers may default on their debt.
- Currency risk: The ETF is exposed to fluctuations in foreign currencies.
- Market risk: The ETF's value can fluctuate due to changes in market conditions.
Who Should Consider Investing?
- Investors seeking exposure to international government bonds.
- Investors looking for a low-cost and diversified investment option.
- Investors with a long-term investment horizon.
- Investors seeking income and capital preservation.
Fundamental Rating Based on AI
Rating: 8.5 out of 10
Justification: The ETF has a strong track record of performance, a low expense ratio, and a diversified portfolio. It also benefits from the expertise of the issuer and the growth potential of the global government bond market. However, investors should be aware of the potential risks associated with interest rate fluctuations and currency movements.
Resources and Disclaimers
- State Street Global Advisors: https://www.ssga.com/us/en/individual/etfs/etf-library-detail?ticker=sbg
- Morningstar: https://www.morningstar.com/etfs/usg/sbg/quote
- Bloomberg Barclays Global Aggregate ex-USD TR Index: https://www.bloomberg.com/professional/product/bloomberg-barclays-global-aggregate-ex-usd-tr-index/
Disclaimer: This information is provided for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SPDR® Bloomberg International Treasury Bond ETF
The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to track the fixed-rate local currency sovereign debt of investment grade countries outside the United States. It is non-diversified.
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